The same term priced at 3.23% a year ago. Visit the following links for the Regional and National Mortgage Rate Details and Definitions.
Advertisement
The 30-year, fixed-rate mortgage averaged 3.93% for the week ended August 20, down from 3.94% a week ago.
“There was little movement in financial markets this week as the 30-year fixed mortgage rate remained steady, dropping only 1 basis point to 3.93%”, Sean Becketti, chief economist for Freddie Mac, said in a release.
The speed on 15-year fixed-rate mortgages eased this week to three.15% from three.17%. The panelists are divided this week, with 42 percent predicting an increase and 42 percent expecting mortgage rates to remain more or less unchanged over the next seven days. “Overall housing markets remain on track for the best year since 2007”.
The five-year ARM average slid to 2.94 percent with an average 0.5 point.
Housing starts in July were at an annual rate of 1.206 million units – a 0.2% increase over June, according to new data from the U.S. Census Bureau and the Department of Housing and Urban Development. Borrowers anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates directly from thousands of competing lenders.
JPMorgan Chase (JPM – Get Report) is lowering its credit standards for high-value mortgages, seeking to attract new customers as a looming Fed interest-rate hike dims the luster of home-loan refinancing. “However, builders are still reporting problems accessing land and labor”.
The 15-year, fixed jumped to 3.28%, up from 3.26% a week ago, while the 5/1 ARM hit 3.24%, up from 3.20% last week.
Citi Mortgage is reporting the 30 year fixed is the same at 4.125%, and their 15 year is up to 3.625%.
[This is how the Federal Reserve is preparing to raise interest rates]. 7/1 ARM interest rates are being offered for 2.625% now with an April of 3.141% to start.
Zillow predicts tomorrow’s seasonally adjusted Mortgage Bankers Association Weekly Application Index will show purchase loan activity did not change from the week prior.
Advertisement
You can also research live rate quotes in the rate search widget below.
